QUESTION 4 (25 Marks) 4.1 You want to begin saving for your daughter's college education and you estimate that she will need R240 000 in 17 years. If you feel confident that you can earn 7.5% per year, how much do you need to imvest boday? (6) 4.2 Suppose your company expects to increase unit sales of widgets by 14% per year for the next 8 years. II you currently sell 2.5 million widgets in one year, how many widgets do you expect to sell in 6 years? (6) 4.3 You are looking at an invesiment that will pay R1 800 in 3 years Il you invest R400 ioday. What is the inplied rate of interest? (8) 4.4 You want to purchase a now cas and you ace wiling to pay R.500 000 . If you can invest at 14S per year and you currently have R350 000, how long wili it be before you have enough money to pay cash for the car